ANNOUNCEMENT 22 Mar 2016In March 2016, the government of Japan announced new support for the overseas expansion of domestic firms.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation press release of 23 March 2016: Loan for Sakhalin-I Odoptu Field Stage-2 Development Project in Russia: http://www.jbic.go.jp/en/information/press/press-2015/0323-47273
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
On 22 March 2016, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with Japanese Sakhalin Oil and Gas Development Co., Ltd. (SODECO) totalling a maximum USD 450 million. The company's shareholders are the following Japanese entities: the Minister of Economy, Trade and Industry; Japan Petroleum Exploration Co., Ltd.; ITOCHU Corporation; Marubeni Corporation; INPEX CORPORATION; and ITOCHU Oil Exploration Co., Ltd.
The loan provides funds to the Sakhalin-I Odoptu Field Stage-2 development, in which SODECO holds a 30% participating interest. This project develops and produces petroleum and natural gas from the fields located in Chayvo, Odoptu, and Arkutun-Dagi off the coast of Sakhalin Island, Russia.
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank's website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
Affected trading partners are identified based on UN Comtrade's import data from 2014.